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Canopy Growth Corp (WEED.TO)

WEED.TO on Toronto Stock Exchange

29.76CAD
24 Jan 2020
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Latest Key Developments (Source: Significant Developments)

Canopy Growth Revises Beverage Launch Timeline
Friday, 17 Jan 2020 

Jan 17 (Reuters) - Canopy Growth Corp ::CANOPY GROWTH REVISES BEVERAGE LAUNCH TIMELINE.CANOPY GROWTH CORP - CANOPY DOES NOT BELIEVE THIS DELAY WILL HAVE A MATERIAL IMPACT ON ITS FY20 REVENUE..CANOPY GROWTH CORP - EXTENDING CANNABIS BEVERAGES TO-MARKET DATE.CANOPY GROWTH CORP - EXTENDING TO-MARKET DATE WHILE INTERNAL TEAMS COMPLETE FINAL STEPS.CANOPY GROWTH - INTENDS TO GIVE UPDATE ON BEVERAGE LAUNCH TIMELINE WITH RELEASE OF Q3 RESULTS.CANOPY GROWTH CORP - REMAINS "VERY CONFIDENT" IN ABILITY TO SCALE CANNABIS BEVERAGES PRODUCTION.  Full Article

Constellation Brands Reports Third Quarter Fiscal 2020 Results
Wednesday, 8 Jan 2020 

Jan 8 (Reuters) - Constellation Brands Inc ::CONSTELLATION BRANDS REPORTS THIRD QUARTER FISCAL 2020 RESULTS.QTRLY REPORTED EARNINGS PER SHARE $1.85.QTRLY COMPARABLE BASIS EPS OF $2.14, INCLUDING CANOPY GROWTH EQUITY LOSSES OF $0.25.EXCLUDING CANOPY GROWTH EQUITY LOSSES, ACHIEVED QTRLY COMPARABLE BASIS EPS OF $2.39.QTRLY REPORTED NET SALES $1,999 MILLION, UP 1%.SEES FY 2020 REPORTED BASIS EPS $0.95 - $1.05.INCREASES FISCAL 2020 OPERATING CASH FLOW TARGET TO ABOUT $2.3 BILLION.SEES FY 2020 COMPARABLE BASIS EPS EXCLUDING. CANOPY $9.45 - $9.55.CONSTELLATION BRANDS - DUE TO GALLO DEALS, A STRANDED COST REDUCTION PLAN OF $130 MILLION IS EXPECTED TO BE REALIZED OVER FISCAL 2021 - 2022 TIMEFRAME.CONSTELLATION BRANDS - $534 MILLION DECREASE IN FAIR VALUE OF CANOPY INVESTMENTS WAS RECOGNIZED FOR Q3 FISCAL 2020.SEES FY 2020 FREE CASH FLOW BETWEEN $1.5 - $1.6 BILLION.CONSTELLATION BRANDS - SEES FY2020 BEER NET SALES GROWTH OF 7 - 8% & OPERATING. INCOME GROWTH OF 8 - 9%.SEES FY 2020 WINE AND SPIRITS NET SALES AND OPERATING INCOME DECLINE OF 8 - 10%.CONSTELLATION BRANDS SEES FY2020 CAPEX $700 MILLION - $800 MILLION.CONSTELLATION BRANDS - ON JAN 7, DECLARED QTRLY CASH DIVIDEND OF $0.75 PER SHARE OF CLASS A COMMON STOCK AND $0.68 PER SHARE OF CLASS B COMMON STOCK.CONSTELLATION BRANDS - REVISED WINE AND SPIRITS TRANSACTION WITH E. & J. GALLO WINERY NOW ASSUMED TO CLOSE AT FY2020 END.  Full Article

Constellation Brands Names Garth Hankinson as Chief Financial Officer
Monday, 9 Dec 2019 

Dec 9 (Reuters) - Constellation Brands Inc ::CONSTELLATION BRANDS NAMES GARTH HANKINSON EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER.CONSTELLATION BRANDS INC - HANKINSON SUCCEEDS DAVID KLEIN, WHO WILL LEAVE HIS ROLE WITH CO TO BECOME CHIEF EXECUTIVE OFFICER AT CANOPY GROWTH.CONSTELLATION BRANDS INC - GARTH HANKINSON HAS BEEN PROMOTED TO EXECUTIVE VICE PRESIDENT AND CFO, EFFECTIVE JANUARY 13, 2020.  Full Article

Canopy Growth Expects That In Most Markets New Products Will Not Be Seen On Shelves Until Early In Jan. 2020
Friday, 6 Dec 2019 

Dec 6 (Reuters) - Canopy Growth Corp ::CANOPY GROWTH PROVIDES UPDATE ON 2.0 PRODUCT ROLLOUT.CANOPY GROWTH CORP - EXPECTS THAT IN MOST MARKETS NEW PRODUCTS WILL NOT BE SEEN ON SHELVES UNTIL EARLY IN JANUARY 2020.CANOPY GROWTH - EXPECTS TO LAUNCH ADDITIONAL BEVERAGE OFFERINGS UNDER TWEED, QUATREAU, AND DEEP SPACE BRANDS IN FOLLOWING WEEKS OF JAN.CANOPY GROWTH CORP - WILL STAGGER ITS LAUNCH OF VARIOUS 2.0 PRODUCTS AND FORMATS TO ENSURE A SMOOTH ROLL-OUT.CANOPY GROWTH CORP - WILL ENSURE THAT ALL 2.0 PRODUCTS OBTAIN UL 8139 CERTIFICATION PRIOR TO COMING TO MARKET.CANOPY GROWTH CORP - DISTILLED CANNABISTM SPIRITS EXPECTED TO BE LAUNCHED IN EARLY FEBRUARY 2020.CANOPY GROWTH CORP - FOR COMPETITIVE REASONS, WILL NOT PROVIDE ONGOING UPDATES DURING ACTUAL 2.0 PRODUCT ROLLOUT PERIOD.  Full Article

Neptune Announces An Amended And Restated Agreement With Canopy
Wednesday, 20 Nov 2019 

Nov 20 (Reuters) - Neptune Wellness Solutions Inc ::NEPTUNE ANNOUNCES AN AMENDED AND RESTATED AGREEMENT WITH CANOPY.NEPTUNE WELLNESS SOLUTIONS INC - CANOPY AND NEPTUNE MUTUALLY DECIDED TO REVIEW TERMS OF PROCESSING AGREEMENT.NEPTUNE WELLNESS SOLUTIONS INC - PARTIES AGREED TO AMENDED SCHEDULE OF PROCESSING VOLUMES COMMITTED TO NEPTUNE BY CANOPY.NEPTUNE WELLNESS SOLUTIONS - AGREED TO REMOVE CERTAIN PREFERENTIAL RIGHTS PREVIOUSLY GRANTED TO CANOPY WITH RESPECT TO NEPTUNE'S CAPACITY & PRICING.NEPTUNE WELLNESS SOLUTIONS - PARTIES AGREED TO REMOVE SOME PREFERENTIAL RIGHTS PREVIOUSLY GRANTED TO CANOPY WITH RESPECT TO CO'S CAPACITY, PRICING.NEPTUNE WELLNESS SOLUTIONS INC - EFFECTIVE JUNE 30, 2020, VOLUME AND PRICING WILL BE NEGOTIATED BETWEEN TWO PARTIES BASED ON MARKET CONDITIONS.NEPTUNE WELLNESS SOLUTIONS INC - 3-YEAR TERM OF AGREEMENT REMAINS UNCHANGED AND EXPIRES ON JUNE 30, 2022.NEPTUNE WELLNESS SOLUTIONS INC - NEPTUNE EXPECTS TO REDUCE ITS CLIENT CONCENTRATION RISK AND DIVERSIFY ITS CUSTOMER BASE.  Full Article

Canopy Says Achieving Q4 Fiscal 2020 Net Revenues Of C$250 Mln Increasingly Unlikely
Thursday, 14 Nov 2019 

Nov 14 (Reuters) - Canopy Growth Corp ::CANOPY GROWTH EXEC- MARKET OPPORTUNITY TODAY IS NOT LIVING UP TO EXPECTATIONS - CONF CALL.CANOPY GROWTH - PLEASED TO SEE RECENT ANNOUNCEMENT THAT ONTARIO HAS MADE A COMMITMENT TO MOVE TOWARDS AN OPEN ALLOCATION OF RETAIL LICENSES.CANOPY - UNLESS THERE IS AN ORDERLY STORE ROLLOUT THE SECTOR CANNOT REACH ITS FULL SALES POTENTIAL & CONVERT CONSUMERS FROM ILLICIT MARKET INTO LEGAL MARKET.CANOPY - ACHIEVING CO'S Q4 FISCAL 2020 NET REVENUES MILESTONE OF C$250 MILLION IS INCREASINGLY UNLIKELY.CANOPY - IS CONTINUING TO EXPLORE A VERY SHORT LIST OF CEO CANDIDATES AND EXPECTS TO MAKE A FURTHER ANNOUNCEMENT WITHIN THE COMING WEEKS.CANOPY - IN Q2, CONTINUED TO SEE A DISCONNECT BETWEEN INVENTORY LEVELS AND THE RATE OF SALE FOR CERTAIN PRODUCTS IN THE MARKET.CANOPY - RECREATIONAL OIL AND SOFTGEL PRICING ADJUSTMENTS OF C$10.3 MILLION ARE REQUIRED TO ESTABLISH CO'S NEW PRICING ARCHITECTURE`.CANOPY - TO DATE, HAVE TAKEN ACTUAL RETURNS OF C$20.5 MILLION FROM THE PROVINCES & EXPECT ANOTHER C$6.4 MILLION TO BE RETURNED FOR A TOTAL OF C$26.9 MILLION IN PRODUCT RETURNS.CANOPY - IDENTIFIED C$15.9 MILLION OF PRODUCTS THAT HAVE BEEN DUE TO EXCESS OR OBSOLETE AND THIS CHARGE HAS BEEN RECORDED IN COST OF SALES.CANOPY - FROM G&A EXPENSES, C$10.8 MILLION PERTAINS TO A LEGAL DISPUTE WITH A 3RD-PARTY HEMP FARMER IN THE U.S., FOR WHICH CO IS SEEKING REMEDY FOR BREACH OF CONTRACT.CANOPY - CAPITAL SPENDING WILL BE MUTED OVER THE NEXT 12 TO 18 MONTHS.  Full Article

Canopy Growth Reports Qtrly Loss Per Share Of $1.08
Thursday, 14 Nov 2019 

Nov 14 (Reuters) - Canopy Growth Corp ::CANOPY GROWTH REPORTS SECOND QUARTER FISCAL 2020 FINANCIAL RESULTS.TAKEN A RESTRUCTURING CHARGE OF $32.7 MILLION.QTRLY LOSS PER SHARE $1.08.RECORDED AN INVENTORY CHARGE OF $15.9 MILLION TO ALIGN PORTFOLIO WITH NEW STRATEGY.Q2 2020 GROSS MARGIN IMPACT OF PORTFOLIO RESTRUCTURING COSTS IS $40.4 MILLION.CONSOLIDATED Q2 2020 GROSS REVENUE, EXCLUDING PORTFOLIO RESTRUCTURING COSTS, WAS UP 6% TO $118.3 MILLION.CANNABIS GROSS REVENUES FOR Q2 2020, EXCLUDING PORTFOLIO RESTRUCTURING COSTS, WAS $94.7 MILLION, AN INCREASE OF 2% OVER Q1 2020.CANOPY GROWTH - SOLD 10,913 KILOGRAMS AND KILOGRAM EQUIVALENTS OF CANNABIS PRODUCTS DURING Q2 2020, UP 3% FROM PREVIOUS QUARTER.ENDED Q2 2020 WITH $2.7 BILLION IN CASH AND CASH EQUIVALENTS AND MARKETABLE SECURITIES AVAILABLE FOR SALE.Q2 REVENUE VIEW C$107.1 MILLION -- REFINITIV IBES DATA.LAST TWO QUARTERS HAVE BEEN CHALLENGING FOR CANADIAN CANNABIS SECTOR.CANOPY GROWTH - MANAGEMENT BELIEVES CURRENT INVENTORY LEVELS BOTH INTERNALLY AND EXTERNALLY ARE IN-LINE WITH DEMAND FORECASTS.Q2 EARNINGS PER SHARE VIEW C$-0.40 -- REFINITIV IBES DATA.BELIEVE CONDITIONS IN CANADIAN CANNABIS SECTOR ARE A SHORT-TERM HEADWIND.CANOPY GROWTH - QTRLY CONSUMER DEMAND FOR CANNABIS CONTINUES TO INCREASE VERSUS Q1 2020 WITH COMPANY-OWNED RECREATIONAL SAME-STORE SALES GROWTH OF 17%.SOLD 10,913 KILOGRAMS AND KILOGRAM EQUIVALENTS OF CANNABIS PRODUCTS DURING Q2 2020, AN INCREASE OF 3% FROM PREVIOUS QUARTER.  Full Article

Vireo Health Names Bruce Linton As Executive Chairman
Thursday, 7 Nov 2019 

Nov 7 (Reuters) - Vireo Health International Inc ::VIREO HEALTH NAMES BRUCE LINTON AS EXECUTIVE CHAIRMAN.VIREO HEALTH INTERNATIONAL INC - CHAD MARTINSON HAS RESIGNED FROM BOARD IN CONJUNCTION WITH MR. LINTON'S APPOINTMENT.VIREO HEALTH INTERNATIONAL INC - LINTON IS FOUNDER AND FORMER CEO OF CANOPY GROWTH CORPORATION.  Full Article

Canopy Growth Completes Acquisition Of Beckley Canopy Therapeutics
Tuesday, 15 Oct 2019 

Oct 15 (Reuters) - Canopy Growth Corp ::CANOPY GROWTH COMPLETES PREVIOUSLY ANNOUNCED ACQUISITION OF BECKLEY CANOPY THERAPEUTICS.  Full Article

Canopy Growth Announces New Chair Of The Board Of Directors
Thursday, 10 Oct 2019 

Oct 10 (Reuters) - Canopy Growth Corp ::CANOPY GROWTH ANNOUNCES NEW CHAIR OF THE BOARD OF DIRECTORS.CANOPY GROWTH CORP - DAVID KLEIN HAS BEEN APPOINTED CHAIR OF ITS BOARD OF DIRECTORS EFFECTIVE IMMEDIATELY.CANOPY GROWTH CORP - KLEIN CURRENTLY SERVES AS EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER OF CONSTELLATION BRANDS INC.CANOPY GROWTH CORP - INTERIM CHAIR JOHN BELL WILL REMAIN AS A DIRECTOR ON BOARD.  Full Article

CANADA STOCKS-TSX edges lower on weak China data; Canopy Growth jumps

Dec 9 Canada's main stock index dipped on Monday on weak data from China, though a jump in healthcare stocks led by cannabis producer Canopy Growth limited losses.